TriZetto shareholders to vote June 30 on deal to take company private

By Lisa Kerner

Charlotte, N.C., May 27 - TriZetto Group Inc. shareholders will vote on the proposed $1.4 billion acquisition of the company by funds advised by Apax Partners, LP at a special meeting on June 30 at 1 p.m. ET.

Apax will take TriZetto private for $22 per share to become majority owner and control the board.

TriZetto's board recommended stockholders vote in favor of the deal, a company news release said.

The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed acquisition in April.

TriZetto will become a wholly owned subsidiary of TZ Holdings, LP, an entity owned by investment vehicles affiliated with Apax, BlueCross BlueShield of Tennessee, Inc. and Regence BlueCross BlueShield of Oregon, Regence BlueCross BlueShield of Utah and Regence BlueShield.

TriZetto develops, licenses and supports proprietary and third-party software products for the U.S. health-care industry. The company is based in Newport Beach, Calif.

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